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Netherlands roundup: Nestlé scheme to replace administrator

first_imgAlliance’s risk management committee warned of risks emerging from the changes at RiskCo, and urged the board to assess other providers. The board said it was sensible to regularly check whether outsourcing partners still met the scheme’s requirements.Pensioenfonds Alliance is the provider of the pension plans for Nestlé Netherlands, Nespresso Netherlands and Galderma Benelux, a wholesaler of pharmaceutical products.The scheme, which has 5,400 participants and pensioners, reported administration costs of €310 per member last year. At September-end, Alliance’s funding ratio stood at 113%. Nestlé’s corporate headquarters in Vevey, SwitzerlandThink tank details difficulties in longevity forecastsPredicting individual life expectancy remains difficult despite the availability of a wealth of data, researchers of Amsterdam’s UMC hospital have concluded.In a report published by Dutch pensions think tank Netspar, the researchers said that three quarters of the variations between individuals’ life expectancy could not be explained based on currently available data.A relative small amount of the variations could be attributed to existing illnesses and physical limitations.This meant that forecasting the costs of individual pension benefits was almost impossible, the UMC researchers said.Instead of individual data, the researchers suggested that pension funds and insurers should focus on larger groups to obtain a better understanding of future liabilities.Through the assessment of groups, any errors in predictions could be cancelled out, they argued. They based their research on data from more than 3,000 over-50s from the areas of Amsterdam, Zwolle and Oss during the period 1993-2017.The researchers – Dorly Deeg, Jan Kardaun, Maaike van der Noordt, Emiel Hoogendijk and Natasja van Schoor – focused in particular on the extent to which known indicators could forecast life expectancy.They looked at social-demographic aspects, illnesses and the use of medication, physical ability, lifestyle, psycho-social factors, and blood analysis, as well as many variables for each indicator.Statistical analysis showed that social demographics, illnesses, physical ability, lifestyle and psycho-social factors could explain more than 21% of the variance in differences in life expectancy.Blood analysis, which could provide clues about inherited conditions and cholesterol levels, added just 3.7% to the predictability of life expectancy, the researchers found.The Amsterdam UMC staff said they expected that their conclusions would contribute to the debate about insuring longevity risk.“Based on these factors, individuals could be classified in groups with a higher or lower life expectancy,” they said. Alliance, the Dutch pension fund of Nestlé and Nespresso, is to replace RiskCo with Achmea Pension Services as its administration provider.The €609m scheme said the switch followed a market survey that showed Achmea as the best performer for risk management and digital communication.The change was triggered by RiskCo’s acquisition of Aon Hewitt’s administration arm in October last year.According Alliance’s annual report for 2017, RiskCo said at the time that it would continue using Aon Hewitt’s administration system Lifetime for up to a year-and-a-half, before switching to a new and flexible system geared to the expected changes in the Dutch pensions system.last_img read more

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ESG roundup: UK investor body calls for exec pension reform

first_imgThe demands were part of the trade body’s “clearer and sharper” expectations about executive pay, made in response to growing frustration that many companies were not listening to investors’ views on the subject.In a letter to the chairs of FTSE 350 companies’ remuneration committees, the IA said the review of its executive pay guidelines had taken into account the new UK corporate governance code as well as increasing dissent on remuneration resolutions in the FTSE 100 this year.“The political and media focus on executive remuneration continues to grow with the forthcoming implementation of new remuneration reporting requirements and an ongoing [parliamentary] inquiry into fair pay,” it added.Andrew Ninian, director of stewardship and corporate governance at the IA, said “a stubborn minority” of the UK’s largest companies were still not responding to shareholder concerns about pay.“Our strengthened guidelines make clear that companies need to demonstrate more robustly the link between pay and company performance,” he said. “If they don’t, they should brace themselves for more shareholder revolts in 2019.”The IA’s new principles also conveyed an update on investors’ expectations with regard to restricted share plans. Shareholders are split on these, but the IA said a majority of its members were willing to consider them although their support “is clearly dependent on the strategic rationale for restricted shares at that company as well as other conditions being in place”.Key messages on climate scenario analysisClimate-savvy investors have developed a climate scenario analysis guide to help less experienced peers come to grips with what they say is a vital risk management tool.Published by the International Investors Group on Climate Change (IIGCC) today, the guide is aimed at helping asset owners and asset managers “close the knowledge gap” on scenario analysis, one of the key recommendations made by the Task Force on Climate-related Financial Disclosures.There was “added urgency” to making climate change a standard part of investors’ risk management processes as the physical impacts of climate change were increasingly clear, according to the IIGCC.The guide was developed with input from Swedish pension buffer fund AP2, and asset managers APG, BMO, HSBC, and UBS, and others.In a LinkedIn post, Vicki Bakhshi, director of governance and sustainable investment at BMO Global Asset Management, said she was proud to have been involved in producing the report.“We hope it helps clarify the options for investors who want to use climate scenario analysis, but may be unsure how to progress,” she said.The guide, she said, encouraged investors to “be clear about your objectives, as there’s no one-size-fits-all methodology”.Stephanie Pfeifer, CEO of the IIGCC, added: “Perhaps the most important conclusion of the guide we’ve published is that the journey is often the destination.“Many benefits of scenario analysis for investors come through undertaking the process, experimenting with methodologies and learning about the ways in which climate change drives financial impacts.”The guide can be found here. Company executives should receive pension contributions in line with the majority of their workforce, the UK’s asset management trade body has said.The Investment Association’s (IA) 2018 Principles of Remuneration, published today, included an expectation that companies pay contributions to directors’ pension pots in line with the rate given to the majority of the rest of the workforce – as opposed to making higher contributions as a mechanism for increasing total pay.This in line with a provision in the UK’s corporate governance code.Companies should also require executive directors to hold a proportion of their shares for at least two years after they leave a company “so that they consider the long-term value of the company even after their departure”, the IA said.last_img read more

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Dutch schemes seek to divest stake in €140m agricultural land fund

first_imgHe added that Fagoed’s supervisory board (RvT) had concluded that there was insufficient support to continue the fund in its current setup, after it had become clear that not all participants were willing to extend their stake.According to Devue, BPL was keen to continue and even increase its holdings “as investing in agricultural land delivers better returns than government bonds and residential mortgages”.Net results for 2017 and 2018 were 3.1% and 3%, respectively. The Dutch pension schemes for the agricultural sector (BPL) and veterinarians (Dierenartsen) plan to divest a stake in a fund invested in agricultural land.The schemes considered the €140m Fagoed fund to be too small, they told Dutch pensions publication Pensioen Pro.The two pension funds account for roughly a quarter of Fagoed’s assets under management. BPL’s stake is worth €21m, and Dierenartsen’s investment is worth €16.5m.Richard Devue, director of BPL, said that a survey into the fund’s prospects had shown that risk management needed improving. Credit: Thilo BeckerThe Fagoed fund was set up in 1987 to buy up agricultural land and lease it back to farmers“But although our fiduciary manager, Achmea IM, had advised that the management problems wouldn’t justify divestment, we didn’t want to go right against other participants’ wish to seek a buyer.”He added that buying other investors’ stakes would not have altered the limited scale of Fagoed, and monitoring the fund would still require a lot of time.Pensioenfonds Dierenartsen said it had decided to sell its stake in Fagoed five years ago, when it decided to simplify its investment portfolio.“Our small stake in the fund, amounting to 1% of our entire invested assets, no longer fitted in our investment strategy,” explained Hans van Gils, trustee at the scheme.According to Van Gils, no party had come up with a reasonable offer for the pension fund’s stake in Fagoed since then.Fagoed’s stakeholders comprise approximately 12 pension funds and insurers, including the €1.1bn pension fund Arcadis – now part of the general pension fund (APF) Het Nederlandse Pensioenfonds, established by insurer ASR.However, APF’s Arcadis compartment declined to confirm that it wanted to divest its stake in Fagoed. Its investment in the fund amounted to €26m when Arcadis joined the consolidation vehicle last year.Arcadis only said that that it was “critically monitoring” its investments in Fagoed.Frans Willem Romer, Fagoed’s director, confirmed that some participants wanted to leave the fund, but highlighted that not all current investors were seeking divestment.However, in the opinion of BPL’s Devue, the investment fund would gradually come to an end “as existing contracts expire in the next 20 years, and no new investments are being made”.Fagoed was established in 1987, and focuses on buying agricultural land to enable selling farmers to finance big investments. The farmer subsequently pays a ground rent for a 27-year period, after which they can repurchase the land against the initial selling price plus inflation.last_img read more

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Dutch cabinet agrees with unions on DC pensions switch

first_imgThe Dutch cabinet and the social partners have reached an agreement on the elaboration of the country’s pensions accord of last June, said Social Affairs’ minister Wouter Koolmees.In a statement released on Friday, Koolmees said that in the new system, pensions will no longer be guaranteed, but will rise and fall in line with markets, shifting risk to participants.Although no details have yet been released about the new pensions contract, the players have been discussing defined contribution (DC) arrangements, albeit with individual pension claims on collective assets.As a result, pension funds will no longer be constrained by a coverage ratio largely dictated by a discount rate for liabilities, which has significantly declined in the past years due to continuously falling interest rates. Projected returns on investment will become the criterion for establishing a participant’s expected pension level instead.As part of the new agreement, Koolmees said that “because of the current extraordinary economic situation”, the temporary reduction of the minimum required funding level – from 104.3% to 90% – will be extended until the end of 2021. New arrangements need to be agreed later.The minister and the social partners claim that, as a result of the new accord, the pensions system will become more transparent and increasingly geared up for a tailor-made approach.Koolmees said the new system will offer the chance of a better pension sooner than under the current rules.He added that contributions for employers are to remain stable, indicating that contributions will become age-independent, while annual pensions accrual will decrease with age.He also said it will become easier for self-employed workers (ZZP’ers) to accrue a pension.However, the conclusions of the negotiations about the entire reform package haven’t yet been made public either.Citing a leaked summary of the new agreement, Dutch pensions publication Pensioen Pro said pension funds will be allowed to adopt the new rules as of 2022.As the new arrangements have to be introduced no later than 2026, the social partners must provide their respective pension funds with clarity about their new pension plan in 2024.Pension funds must in principle merge existing pension rights with new pensions accrual.However, there will be an opt out for schemes than can show that merging rights can’t be implemented in a balanced way for all participants.The summary further suggested that the tax-facilitated pensions contributions were to be capped at more than 30% of the pensionable salary.The social partners of employers and unions are to consult their rank and file before the minister tables the proposals in a framework note for parliament before the summer.The players said that subsequently, consultations would be held on a regular basis in order to monitor the reform process.The only direct and concrete result of the initial pensions accord of last year was a slowdown of the rise of the retirement age of the state pension (AOW).Looking for IPE’s latest magazine? Read the digital edition here.last_img read more

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​Sweden boosts buffer funds’ ownership cap to 15% from 10%

first_imgBesides the blow dealt to cashflows, the fall in income was also reflected in losses in company income statements, the government department said in the proposal, which it said had dented the businesses’ long-term ability to repay loans.“It is primarily up to existing owners to inject new capital themselves or with other private financiers,” it said.The legislative amendment is scheduled to take effect on 1 November this year and expire at the end of June 2021.According to the proposal, if AP funds 1-4 end up with more than 15% of the voting capital in any company as a result of a share issue, the excess portion must be liquidated “as soon as appropriate taking into account the market conditions”.However, this sale of shares also has to take place when it can be done without loss to the AP fund, the proposal goes on.The part of a holding over and above the current limit of 10% of voting rights will have to be wound up no later than seven years after the acquisition of shares through a rights issue, according to the draft, which is now out for consultation until 10 August. Under a new COVID-related proposal from the Swedish Finance Ministry, the big four buffer funds behind the country’s state pension are to be given permission to hold larger stakes than usual in the companies they invest in for the next few years.The ministry’s Financial Markets division published the draft legislation yesterday, as a temporary change to the investment rules for AP1-4 contained in the General Pension Funds Act (AP Funds) – specifying in the title that it was being made due to COVID-19.The cap on votes the individual AP funds may hold in any single listed company is being raised temporarily to 15% from 10% – as long as the excess equity is acquired via a new share issue.Explaining the background to the proposal, the Financial Markets division said COVID-19 and measures taken to counteract its spread had resulted in sharply reduced revenues for many Swedish companies.last_img read more

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Throw away the lawnmower when you move to this home

first_imgThere is an open plan kitchen, living and dining area.Given the fact that the property was only recently built, there was not much for the couple to do, but they did extend the back deck and the roof above it.This area is now one of Mrs McClure’s favourite spaces at the property.More from newsDigital inspection tool proves a property boon for REA website3 Apr 2020The Camira homestead where kids roamed free28 May 2019“It’s got surround sound speakers throughout, so its nice to sit out there and have the music on in the background,” she said.“It’s also good for entertaining.” The media room.The vendor believed the house would suit multiple buyers.“It could suit either a young couple or an elderly couple as everything is walking distance and it has got a bus stop out the front.”Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 6:04Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -6:04 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p432p432p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenFebruary: Brisbane CoreLogic RP Data market update06:05 There is a walk-through wardrobe in the main bedroom.Most of the house is tiled, with some of the bedrooms carpeted.Development of Yarrabilba began in 2010 and the community continues to blossom.Last year Yarrabilba State School opened and there are fortnightly night and Sunday markets.“It’s an up-and-coming community,” Mrs McClure said.“It is convenient, with coffee shops and walking tracks.” The design of the house includes a neutral colour palette.“We were attracted to the fact it was low-maintenance — there is no mowing or anything to be done,” Mrs McClure said.It was an ex-display home but had obvious appeal, with luxury inclusions such as ducted airconditioning, built-in speakers and a soaker tub.center_img The house at 14 Vantage Lane, Yarrabilba, is for sale.SPEND next to no time gardening and more time enjoying life with the family.The low-maintenance lifestyle of the house at 14 Vantage Lane, Yarrabilba, was what drew Carol and Nigel McClure to it when they bought it more than two-years ago. The back deck is one of the vendor’s favourite spaces at the property.There are four bedrooms, with separation between the main bedroom and the others. The master has a walk-through wardrobe behind the bed and an ensuite with a double vanity, shower and separate bathtub.last_img read more

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Landlords rejoice! Rents rise $100/wk in parts of Brisbane

first_img Suburb Annual rent change % The average weekly rent in Teneriffe is $700, according to the REIQ. Picture: AAP/David Clark.Demand for two-bedroom units in Tingalpa was strong in the December quarter, with a $65 a week increase across the year to $365.On the flip side, the median rent for two-bedroom units in Manly dropped from $388 a week in December 2017 to $353 a week in December 2018.The vacancy rate in the Brisbane local government area increased from two per cent in September 2018, to 2.5 per cent in December 2018, with property managers expressing concerns about an oversupply of rental stock.But Ms Mercorella said it was a healthy result for investors in relation to returns, considering the vacancy measure softened. Houses in the Brisbane LGA reached gross rental yields of 3.3 per cent in December 2018, while units recorded a higher gross yield of 5.1 per cent, reflecting the increase in the weekly median rent and a gradual fall in unit prices.“We expect to see a gradual increase in median rents as the dynamics of rental supply and demand continue moving towards equilibrium,” Ms Mercorella said.“Tenants will still have a variety of rental options available, and many are exercising their right to negotiate on rent levels and potential incentives. “However, there are indications landlords who have high-quality stock — particularly in well serviced suburbs — are regaining negotiation power in the transaction.” 1. Ashgrove 28.5%2. Yeronga 14.6%3. Annerley/Fairfield 13.6%4. Gumdale/Wakerley 12.9% 5. Hemmant 11.4% (Source: REIQ, based on 12 mths to December 2018) Rents are on the rise in Brisbane after years of flat growth, according to the REIQ. Image: AAP/Darren England.RENTS are on the rise after years of flat growth in Brisbane, with new figures showing some suburbs have seen increases of more than $100 a week.The cost of leasing most homes in the city became $10 to $20 a week more expensive than it was at the start of 2018, with the median rent for a three-bedroom house rising 3.6 per cent to hit $435 a week, according to the latest report from the Real Estate Institute of Queensland.Rents for two-bedroom units rose even more — up five per cent to a median of $420 a week.The biggest jump in rent was recorded in the inner west suburb of Ashgrove, where it is now $122 a week more expensive to rent a three-bedroom house than it was this time last year. The median rent for a three-bedroom house in Brisbane rose 3.6 per cent to hit $435 a week in 2018. Photo: Paul Guy.The Cosgrove family has lived in Yeronga for the past 20 years and bought an investment property there in 2005.More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoDarren Cosgrove said they leased their house for $460 a week, but had long-term tenants.Mr Cosgrove said he was not surprised rents had risen more than 14 per cent in the suburb in the past year.“There a lot of new builds here now, which would drive that price up — lots of townhouses and premium properties,” he said.New Farm and Teneriffe remain the most expensive rental options in the Brisbane local government area for three-bedroom houses, with the weekly median rent setting you back $700. The suburb of Ashgrove recorded the biggest jump in rents in the past 12 months, according to the REIQ. The median rent in the suburb is $550 per week, based on a sample size of 23 new bonds.REIQ chief executive Antonia Mercorella said residential rents across Brisbane had been flat for some time, but were finally starting to rise, which was good news for investors.Ms Mercorella said inner city properties were still generating flat returns, but some middle to outer suburbs, like Ashgrove, were outperforming.“It’s such a popular suburb with families because of the access to good schools and it’s so green and leafy,” she said.Other strong performers were the two clusters of Annerley/Yeronga and Gumdale/Ransome/Wakerley, where median rents rose $60 a week in each postcode group to come in at $500 and $525 a week, respectively.TOP SUBURBS FOR MEDIAN RENTAL GROWTH HOUSES IN BRISBANE LGA Rents are on the rise in Brisbane after years of flat growth, according to the REIQ. Image: AAP/Lukas Coch.The Gold Coast is the state’s most expensive rental market for three-bedroom houses and two-bedroom units. The annual median rental price to December 2018 for houses was $500 a week and $440 a week for units, both of which reflect a $10 a week gain over the year.The suburbs of Clear Island Waters and Tallebudgera Valley are the most expensive rental markets with annual medians of $850 and $795 a week, respectively.On the Sunshine Coast, the residential vacancy rate continued to tighten — hitting 1.8 per cent. According to the REIQ, tourism and strong interstate migration into Queensland is part of the reason why the region’s vacancy rates are sitting in the “more demand than supply” territory. Reflecting supply constraints, median weekly rents are increasing across the region. The median rent for a two-bedroom unit on the Sunshine Coast increased $15 a week over the year to be $370.In Noosa, the median weekly rent for a three-bedroom townhouse skyrocketed by $120 a week over the December quarter.last_img read more

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Townsville’s Marina Residences development hits the market

first_img New development wired up for the future More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020Managing director at M Property Glen Maidment said the development had already secured interest from potential buyers. “We have had numerous Townsville locals contact us, and register their interest, and we have pre-booked appointments to visit the display suite this weekend,” Mr Maidment said. “The majority of inquiries we’ve been getting have come from professionals with kids, and business people.” Managing director Glen Maidment at the site for Marina Residences. Picture: Evan MorganWith 11 multi-level executive homes and 16 boutique luxury apartments on offer, Townsville’s latest residential development, Marina Residences, is a site with something for everyone. The new $50 million waterfront complex, developed by Maidment Group, officially goes to market today, with its four-level display suite opening to the public this morning at 10am. An exclusive preview on Wednesday night showcased a scaled-down version of individual areas throughout the homes and apartments.MORE NEWS: Lowest home loan rates revealed MORE REAL ESTATE NEWScenter_img “We are also expecting it will be of interest to people toward the end of their careers, and even retirees who are just looking for the ultimate premium residential address.”Located on the Mariners Peninsula, the site features unrivalled views of The Strand, Magnetic Island and Cleveland Bay. “The peninsula has direct access to The Strand, and proximity to the CBD — it also offers absolutely sensational views,” Mr Maidment said. “If you’re looking for the best address in Townsville with the very best views, arguably this site has it all.”Prices for the lower-level apartments will start at about $1.25 million, with the marina homes and high-level apartments ranging up to about $2 million. last_img read more

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Building reboot begins for Townsville

first_img FINANCE APPROVAL AND COLOUR SELECTION A home by New Home Solutions during construction.“In the last few weeks, things are certainly starting to pick up for us. It’s about consumer confidence, and people are confident about growth and they’re prepared to build a new home instead of put up with their old one,” Mr Baxter said. “I think it’s a great time for people to build in Townsville, prices have never been lower. “The market’s been flat for a couple of years, and there’s plenty of reasons why it’s a good area to build in, including the recent election results.”Mr Baxter said building was a sure way for consumers to get everything they wanted in their ideal location without having to compromise on the finer details. More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020New Home Solutions clients Shannon Robards and Kiran Sharma completing the ‘slab wetting ceremony’ at handover.“You are going to get exactly what you want in a home, you’re not settling for things that other people have thought of design-wise — for example, seeing into bathrooms and toilets from the kitchen,” he said.“You can make sure everything is perfect for what you and your family are looking for.“Everything’s warranted so you have nothing to worry about in terms of maintenance and repairs.”Building can seem like a daunting task for those who haven’t been through the process before, so Mr Baxter has outlined the stages of building a new home and where to begin. CONSULTATIONThis is where you talk through your ideas, needs, and budget with a builder. If someone hasn’t got a block of land yet, it is recommended that they talk to a builder so they can find the perfect one; that way they don’t buy something and then realise they can’t build what they want there. Tradie saves his way to four investment properties by 22 MORE IN REAL ESTATE NEWScenter_img DESIGN The builder will then design a home or recommend a design based on the client’s needs and show them how that will work on the land before they buy it. We will then give them a ballpark price for it. There are some serious sales tactics out there that get people committed to more than what they can afford, so it’s important people know what to look out for, and that’s why we recommend they find a good builder. Once the client has decided what they want, they will go to the bank for finance approval and select the finer details of the home, including tile colours and other things like that. While they decide on that, the builder will do all the compliance, approvals, certifications and that sort of thing. THE BUILDThe build usually takes anywhere between four and six months, but it is obviously subject to the design, style and location of the build. The slab and site preparation comes first; we do a slab wetting ceremony with our clients where we shout drinks. After that comes the frame where the walls go up and the insulation and roof goes on. Then it’s time for windows and doors to go in and other details from there. Marketing and design manager at new home Glen Baxter says prices to build in Townsville are at their best.ELECTION results and the recent approval of the Adani Carmichael coal mine has Townsville residents feeling confident to put their money in the local property market.Builders are starting to reap the rewards, noting an increase in interest from consumers.New Home Solutions marketing and design manager Glen Baxter said prices to build in the area were at their best.READ MORE City set to receive $10 million windfall from new development last_img read more

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Former AFL player Joel Patfull and his Insta-famous fiance Elle Ferguson list New Farm house to fund love nest

first_imgVideo Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:11Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:11 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreen5 tips to style your home for sale01:12GLAMOUR couple Joel Patfull and Elle Ferguson are planning to buy their first love nest, with the former AFL player listing his New Farm house for sale.Currently in Bali, Patfull bought 73 Browne St in 2008 during his third year with the Lions, and before making the move to the GWS Giants. MORE NEWS: Robin Bailey lists Brisbane home But it is the property’s location that is expected to be popular with buyers as its is also close to the Howard Smith Wharves, Merthyr Village and New Farm Park.“The biggest selling point is the block size, the location and the house, which has been beautifully renovated and you can also build underneath,” Mr Brown said.“We have already had a few offers so we are just working through whether we go to auction or sell prior.” 73 BROWNE ST NEW FARM Joel Patfull during his time with the GWS Giants in 2016. (Photo by Ryan Pierse/Getty Images)He had previously bought, renovated and sold a house at Morningside. “I was looking for a bigger project – and this house (New Farm) needed a lot of work,” Patfull said. “Queenslanders are so adaptable.”Elle, a stylist and the founder of tan brand Elle Effect, said her partner had a “real passion for renovating and transforming properties”. Joel Patfull and Elle Ferguson CREDIT: Pixie Bella Jesse AllenThe influencer said Patfull was responsible for all of the major works on the New Farm house, but she also had a hand in the final product.“He did all of the major work but when I walked in there I told him it needed a woman’s touch,” she said. “It was way more masculine than it is now. “Now it is a dream home and we love its beachy, coastal vibe, but we want a new project.” 73 Browne St New Farm before the renovation And the house nowWhen asked whether they were looking for a family home, she laughed: “Joel would be nodding but I would just be looking for somewhere to put my handbags and shoes”.The loved up couple have made the move south to Sydney, and have been living in North Bondi.“We’ve kind of fallen in love with being able to just walk to the beach, but beachside property is expensive,” Patfull said. The backyard before the renovation And the backyard nowElle, on the other hand, has not ruled out buying another Queenslander-style house in New Farm.“We love the vibe in New Farm,” she said. “It reminds me of Paddington in Sydney, and we love that the airport is so close. With the amount of international travel we do, that works for us.“We are both huge fans of Brisbane, and New Farm is a real sweet spot for us.” More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours agoThe light and bright living area The kitchenShe said the couple enjoyed cooking and having room for family and friends, which was what appealed about the Browne St house. But she said it was time to “pass those good vibes on to someone else”.The property is listed for sale with Josh Brown and Ruby Kiriyama-Brown of Ray White New Farm.It is a short walk from the James Street cafe precinct, and sits on a 564 sqm block with a swimming pool.There are three bedrooms and two bathrooms, an outdoor entertaining area and a private rear deck, a secure double garage and lower level storage space, a contemporary kitchen and a master bedroom with an ensuite and walk-in wardrobe. Beauty queen buys in the Sunshine State TV star helps couple score dream beach houselast_img read more